Don Braid: Mainfreight CEO on the company's profits plunging 42 percent
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
Global logistics company Mainfreight has reported a significant slump in net profit and revenue.
Their result shows profits declined 42 percent, to $124 million- after a successful 2022.
CEO Don Braid says the company managed to have two really good years, as the company took advantage of unprecedented demand.
"We're now heading towards a more normalised trading environment, freight volumes are down dramatically from the nutty period where we had economic stimulus from Governments around the world."
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